Camera specialist Jessops chairman David Adams is to step down at the end of the month.

Adams was instrumental in the rescue deal that saved Jessops from administration in 2009. He led discussion with its lenders HSBC that resulted in a life-saving debt-for-equity swap.

Adams will be replaced by Martyn Everett on March 1.

Jessops said Everett “has a wealth of experience in change management and delivering stakeholder value across a wide spectrum of market sectors”.

He is currently a director of Chorion, the media rights group. He has also held board positions at water treatment firm Biwater and commercial property group Kenmore. Prior to this he was deputy finance director of property firm Taylor Wimpey.

Adams will provide consultancy support to Jessops for a further three months.

Adams joined Jessops in 2007 as executive chairman. He oversaw Jessops’ capital restructuring in 2009, then became chairman in July 2010 after recruiting Trevor Moore as chief executive in September 2009. 

Moore said:  “I would like to thank David for his significant contribution to the business. He has provided wise counsel, support to me as chief executive and is highly regarded across our business.”

Jessops has also appointed Neil Old as commercial director. Old was previously European commercial director at Best Buy Europe’s Carphone Warehouse. Prior to that, he sopent 10 years at Dixons in various commercial roles, both in the UK and overseas.   

Moore added: “I now look forward to working closely with Martyn and Neil as Jessops enters a new phase of development drawing on their experience to drive the continued success of the business.”